9911796707
TMI Blog2019 (8) TMI 1055X X X X Extracts X X X X X X X X Extracts X X X X ..... as not been passed and communicated to the appellant within the time limit prescribed in the law and accordingly same is bad in law. Relief Claimed: Impugned assessment order may kindly be quashed. 2. In the facts and circumstances of the case, Learned CIT (A) failed to appreciate that entire assessment proceedings have been carried out by the learned Income Tax Officer in gross violations of principles of natural justice. No information prior to appointing commission u/s 131 (1)(d) was given nor report of such commissions, account statement or other material as submitted by such creditors were ever shared with appellant despite demands. Even opportunity of cross examining creditors who has disputed outstanding was never given to the ap ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e on concocted story of depositing cash by appellant with M/s Annapurna Traders without properly applying mind to facts and circumstance of the case and appreciating the probability of such assessee having deposited his own unaccounted money in the name of appellant to avoid tax. Relief Claimed: It is most humbly prayed that the addition of Rs. 6,10,642/- made to the income of appellant on this count may kindly be deleted in full. 6. That in the facts and circumstances of the case, Learned CIT (A) erred in making addition of Rs. 1,44,000/- to the income of the appellant holding that no confirmation of account was submitted though same was stated to be submitted in written reply on 8th March 2016 whereas same was duly submitted by the ap ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to delete interest so charged. 10. The Appellant further craves leave to add, alter and/or to amend the aforesaid ground of appeal as and when required." 3. The facts in brief are that the assessee company is engaged in the business of Trading of various agro commodity items i.e. cereals, ginger, coriander and garlic. The assessee has filed his return of income for A.Y. 2013- 14 declaring total income of Rs. 4,00,640/-along with audit report. The case was selected for scrutiny assessment and the assessment u/s 143(3) of the Income Tax Act 1961(hereinafter called as 'the Act') was framed vide order dated 20.03.2016. The assessing officer noticed that as per the balance sheet as on 31.03.2013 the assessee had disclosed total creditors of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and out of shop expenses. The other addition out of disallowance of depreciation was confirmed. 5. Now, the assessee is in present appeal. No one appeared on behalf of the assessee however written submissions have been made. The written submissions of the assessee are as under: "The appellant humbly submits that the creditor Shri Naveen & Co. and M/s Maa Annapurna Traders have old balances in the account which was payable on account of the purchases made from them. a. In the case of Naveen & Co. the purchases were made during the financial year 2009-10 and 2010-11 and the balances have been carried over during this year. The copy of the bill for purchase also has been during the financial year 2010-11 is enclosed herewith. The amounts ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d. Moreover we find that the assessee has not placed any evidence in support of his contention, therefore, ground no.1 of the assessee's appeal is rejected. 9. Ground No.2 is against the violation of principles of natural justice. No argument is addressed or submissions are made in this regard by the assessee. Therefore, we do not see any reason to interfere into the orders so this ground of assessee is dismissed. 10. Ground Nos.3, 4, 5 & 6 are in respect of the addition of unexplained credit balance. Apropos to these grounds, it is submitted that these balances relate to earlier years and assessee has repaid the amount in subsequent years. This fact, in our view, requires verification at the end of the A.O. Hence, the issue of credit ba ..... X X X X Extracts X X X X X X X X Extracts X X X X
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